Business news from Ukraine

Zelensky to visit Albania

Ukrainian President Volodymyr Zelensky in Tirana will hold a meeting with the Prime Minister of Albania Edi Rama, will participate in the summit “Ukraine – Southeast Europe”.

“With the Prime Minister of Albania and his team we will hold talks on defense and political cooperation, support for the Formula World and work on security agreements. Albania is one of the countries that joined the G7 Vilnius Declaration, for which we are very grateful,” Zelensky wrote in his Telegram channel on Wednesday, calling Edi Rama an uncompromising friend of Ukraine.

“In the format “Ukraine – Southeast Europe”, which is meeting for the second time, we will talk about our common path to the Euro-Atlantic goal. I will offer to support Ukraine’s efforts to ensure a just and lasting peace, the organization of the Global Peace Summit in Switzerland,” he informed.

In addition, the President of Ukraine will hold bilateral meetings with the participants of the summit.

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VEON CEO plans to continue negotiations with Ukrainian authorities

Kaan Terzioğlu, CEO of VEON Group, the parent company of Ukraine’s largest telecom operator Kyivstar, plans to return to Kyiv in late January to meet with his team and continue the dialogue with the Ukrainian authorities, he said in an interview with Forbes Ukraine.

“I hope that we will meet with many stakeholders, including the Ukrainian government, but not only,” Terzioglu said.

He added that during his first visit in October last year, he was unable to talk to Deputy Head of the Presidential Office Rostyslav Shurma, who has been publicly stating the possibility of nationalizing Kyivstar since July last year, and hopes that he will be able to do so during his upcoming visit.

“When the rumors emerged and Mr. Shurma gave his interviews, it had a significant impact on trading volumes and share prices. Now the shock has passed, but we lost almost 30% of the value of our shares during that period,” stated the CEO of VEON.

Commenting on the seizure of 47.85% of Kyivstar shares, which is comparable to Letter One’s stake in VEON, Terzioglu said that an appeal has been filed and expressed hope that the seizure will be lifted and this will help reassure international investors. He emphasized that VEON owns all 100% of Kyivstar’s shares, and Letter One, according to his information, has distanced itself from co-owners Mikhail Fridman and Petr Aven, who are subject to international sanctions, and is not subject to such international sanctions.

According to VEON’s CEO, the seizure of Kyivstar shares does not affect the company’s operations, ability to operate and maintain its networks. “The arrest only affects the ability to receive dividends or transfer shares from one owner to another,” Terizoglu explained.

Earlier it was reported that the Shevchenkivskyi District Court of Kyiv reduced the package of seized shares of Kyivstar from 99.994654% to 47.85%, and the seized share of LifeSell LLC from 100% to 19.8% as part of interim measures in the case against Alfa Group co-owner Mikhail Fridman opened in late September. He made such changes to the earlier ruling of October 4 based on a motion filed by a prosecutor from the Prosecutor General’s Office due to a typo. As for the rest of the seized assets, the court confirmed the accuracy of their original description. In particular, 100% of the corporate rights of three Kyivstar-affiliated companies, including Kyivstar.Tech, Helsi, and the Ukrainian Tower Company, remain under arrest.

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PRESIDENT ZELENSKY: THERE IS PROGRESS IN NEGOTIATIONS ON GRAIN EXPORTS IN TURKEY

President of Ukraine Volodymyr Zelensky noted “certain progress in the negotiations in Turkey on the restoration of food exports from Ukraine through the Black Sea.
“We are indeed making significant efforts to restore food supplies to the global market. I am grateful to the UN and Turkey for their respective efforts,” he said Wednesday evening in a traditional video message.
“The success of this story is needed not only by our state, but, without exaggeration, by the whole world. If the Russian threat to shipping in the Black Sea is removed, this will alleviate the severity of the global food crisis,” Zelensky said.
“The Ukrainian delegation reported to me that there is some progress. In the coming days, we will discuss the details with the UN Secretary General,” he said in conclusion.

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UZBEK AUTHORITIES INTEND TO CONCLUDE NEGOTIATIONS ON JOINING WORLD TRADE ORGANIZATION

The Uzbek authorities intend to conclude negotiations on joining the World Trade Organization (WTO) in the near future, the press service for the Uzbek Investments and Foreign Trade Ministry said.
Deputy Prime Minister and Investments and Foreign Trade Minister Sardor Umurzakov spoke at the latest meeting of the working group on Uzbekistan joining the WTO, its fifth, in Geneva.
“The head of the Uzbek delegation confirmed firm determination to actively promote the process of the republic joining the WTO and concluding bilateral negotiations with all interested member states of the organization in the near future,” the press service said.
The working group has begun detailed discussion of the documents presented on Uzbekistan’s foreign trade conditions, including a fact-based digest, answers to the questions of member states, information on economic policy, measures implemented to privatize government assets, customs and tariff policy, state support for agriculture, and industrial subsidies, it said.
All 25 WTO member states speaking unanimously declared their full support for Uzbekistan’s entry into the organization, emphasizing that this will allow the republic to integrate into the multilateral trade system in full and give impetus for the further development of its trade-economic ties with all member countries.
“The results of the activities carried out by the interagency commission on work with the WTO within the framework of the process of Uzbekistan’s accession to the organization, including in the array of preparations for an expanded package of documents and bilateral talks on access to the country’s market, were given a positive assessment,” the press service said.
The Uzbek delegation is also holding a number of bilateral negotiations in Geneva on access to the goods and services market with the United States, the European Union, Canada, Brazil, Switzerland, Indonesia, Saudi Arabia, Mongolia, and other key WTO member states.

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UKRAINE WAS NOT INVITED TO NEGOTIATIONS BETWEEN RUSSIA AND TURKEY ON GRAIN EXPORTS VIA BLACK SEA – VOLODYMYR ZELENSKYY

President of Ukraine Volodymyr Zelensky says that neither he nor Ukrainian Foreign Minister Dmitry Kuleba were invited to a meeting in Ankara on June 8, which will, in particular, consider the issue of Black Sea shipping and which will be attended by the Minister of Foreign Affairs RF Sergey Lavrov.
“I was not invited. The Minister of Foreign Affairs has not been invited to date,” Zelensky said during a conversation with reporters on Monday, answering a related question.
According to him, he discussed with Turkish President Recemop Tayyip Erdogan, among others, the issue of mediation by the Turkish side in unblocking Ukrainian ports.
“For us, it is important that we are ready to produce grain… For us (important – IF) that there is a safe corridor of ships – that this or that fleet of this or that state will ensure the export of this grain to us. That’s all. And here we talked both with Britain and Turkey. Turkey is now finding a format to give us guarantees… I think because of this they are meeting with the Russians so that Russia will give Turkey guarantees that nothing will happen to their ships. I think so. But, however, the details of their meeting are unknown to me yet,” Zelensky said.
The President also said that negotiations on the export of grain are being held with the UN, as well as with the Baltic countries and Poland – on the export of some volume by rail, but this direction is not a priority due to the long delivery times. Through Odessa ports, according to him, Ukraine can export 10 million tons of grain monthly. “If now we have 22-25 million tons blocked there, but in the fall we may already have 75. What are we going to do? Therefore, we won’t be able to do without ports,” Zelensky stressed.
When asked under what conditions Ukraine can go for demining the coast of Odessa ports and who should be the guarantor for the Ukrainian side to do this, he replied: “I consider the strongest guarantee is our appropriate weapons that will be deployed in the region, the unblocking of another corridor to the port for the export of grain”.
“We are working on this with specific states, with specific anti-ship systems. We are working and are already getting a little, I can already state. I think this is the best guarantee,” Zelensky added.

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KULEBA DENIED RUMORS THAT GERMANY AND FRANCE ARE PUTTING PRESSURE ON UKRAINE FOR CONCESSIONS IN THE NEGOTIATIONS

Ukrainian Foreign Minister Dmytro Kuleba denied rumors that Germany and France are putting pressure on Ukraine to make concessions in negotiations with the Russian Federation.
“Those countries that you mentioned are our partners, they help us a lot, especially the UK, and we don’t feel any pressure in the negotiation process from their side, we feel support and we have very close interaction with these governments,” Kuleba said at the briefing in Warsaw on Friday.
So Kuleba responded to a journalist’s request to comment on media reports that France and Germany are putting pressure on Ukraine to make concessions to the Russian Federation in the negotiations.
The head of the Ministry of Foreign Affairs stressed that even before the start of the war, it was inappropriate to say that Ukraine could be put under pressure.
“We have shown in a number of situations that Ukraine does not succumb to any pressure, you can only speak with us on an equal footing and you can never speak down. And after 36 days of war, I assure you that no one in Europe or overseas will even dare to attack President Zelensky or to Ukraine for any reason,” Kuleba said.

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